After Biden disclosed infrastructure transactions, Bitcoin reached 35,000 U.S. dollars, and Paraguay proposed a BTC bill


Bitcoin (Bitcoin) Prices have been boosted because of news that Paraguayan legislators plan to introduce a bill to make BTC fiat currency spread on Twitter. Soon after the unconfirmed news on Twitter, the price of Bitcoin rose to $35,289 and then fell slightly below the key short-term resistance level.

Although the cryptocurrency fear and greed index still shows extreme fear, it is worth noting that the index has risen from June 23rd to 14th June 24th to 22nd, as traders will begin to fall below 29,000 USD and Bitcoin open positions are taken as an indication that the current correction phase may be over.

Cryptocurrency fear and greed index. source: select

Although traders’ sentiment may improve slightly, Cointelegraph analyst Marcel Pechman said Investors may be waiting for $6 billion worth of Bitcoin and Ether (ETH) quarterly futures and options to expire On June 25th, he made a more decisive move.

Stock market hit a record high, altcoins rebounded

The cryptocurrency market is not the only market that has rebounded today.After US President Joe Biden, the traditional market has also risen to a new high disclose He has reached an agreement with the Senate on a $953 billion bipartisan infrastructure spending plan.

After the announcement, the S&P 500 and Nasdaq both hit new intraday highs, closing up 24.65 points and 97.98 points, respectively. The Dow rose more than 322 points on the day.

Daily cryptocurrency market performance. source: Coin 360

As one might expect, as Bitcoin prices and traditional markets have risen, altcoins have also soared. Ether (Ethereum) Rebounded above the important psychological price of $2,000, and Tron (Trunk) And Celo rose 26% and 28% respectively. CELO’s move appears to be driven by the listing of its Celo Euro (cEUR) stablecoin on the KuCoin exchange.

Before the recent price increase, VORTECS™ data came from Cointelegraph Markets Pro The outlook for CELO was found to be bullish on June 22.

Cointelegraph’s unique VORTECS™ score is an algorithmic comparison of historical and current market conditions. These data points include a combination of market sentiment, trading volume, recent price changes, and Twitter activity.

VORTECS™ score (green) and CELO price. source: Cointelegraph Markets Pro

As shown in the figure above, CELO’s VORTECS™ score climbed to green and reached a high of 73 on June 22, which was the hour before its price began to soar by 56% the next day. The VORTECS™ score turned green again on June 24, as CELO began to rise again by 25%, reaching a high of 74.

The overall cryptocurrency market value is now 1.4 trillion U.S. dollars, and Bitcoin’s dominance rate is 46.6%.

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